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Cendant to Acquire Prominent Title Companies Based in Texas

Cendant Settlement Services Group (CSSG), a subsidiary of Cendant Corporation (NYSE: CD - News), today announced that it has signed a definitive stock purchase agreement with owner Herbert L. Williams to acquire American Title Company of Houston, Texas American Title Company, Title Resources Guaranty Company and their related title companies based in Texas. Subject to state insurance regulatory approvals and other customary closing conditions, the transactions are expected to close within 60 to 90 days. The terms of the transaction were not disclosed, and it is not expected to have a material impact on the financial results of either Cendant or its Real Estate Services Division.

These acquisitions establish CSSG’s entrance into the Texas market with a direct title operation and an in-state footprint highlighted by a large presence in Houston and Austin. Texas American Title Company is the largest independent title agency in Texas. Today’s announcement also marks CSSG’s initial venture as sole owner and operator of a title insurance underwriting business, Dallas-based Title Resources Guaranty Company.

The Potomac Company initiated the transaction and acted as finder. Please call Paul Giannamore at 215-396-2011 for more information.

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